Tuesday, June 5, 2012

BOSCH Press Conference in Manila

BOSCH maintains sales growth in 2011

Investment of USD 1.8 million in Training Center to strengthen market presence as technology leader

Press Release:

Manila, Philippines, June 5, 2012 - In fiscal 2011, Bosch Group grew more strongly than expected, despite a weaker global economy. Sales of the leading global supplier of technology and services increased by 9.0 percent to USD 72.1 billion (EUR 51.5 billion). Profit before tax stood at USD 3.64 billion (EUR 2.6 billion). The company strengthened the market position of all three business sectors. Automotive Technology, the Industrial Technology and the Consumer Goods and Building Technology.

In 2012, worldwide sales of the leading supplier of business and services are expected to grow between three and five percent. Investments will remain on high level with capital expenditure again exceeding USD 4.2 billion (EUR 3 billion). "In 2012, we expect to spend USD 6.4 billion (EUR 4.6 billion) for research and development, USD 560 million (EUR 400 million) more than in 2011", announced DR. Volkmar Denner at the recent annual press conference of the Bosch Group. Dr. Denner is the Bosch board management member for research and development who will succeed Franz Fehrenbach as CEO of the Bosch Group on 1 July 2012.

Managing Director of Bosch in the Philippines - Joseph Hong (left) and President and Managing Director of Bosch in Southeast Asia - Martin Hayes (right)

Martin Hayes was upbeat about continued growth in this region. " Our Southeast Asian operations saw positive growth in 2011, despite portentous events such as the sovereign debt and euro crises, as well as natural disasters in the Philippines and Thailand with the corresponding economic consequences."

He added: "Southeast Asia is a strong emerging region and the third largest market in the world. Bosch is in the right place at the right time to tap on the dynamic pulse on this region."

As Joseph Hong said, " In the past 15 years we have strengthen our Automotive Aftermarket and Power Tools divisions market presence in the Philippines. In 2011, these divisions posted strong growth of 18 percent and 40 percent respectively. We took this as good guidance to achieve further growth, and wanted to take our business to another level with the expansion of Thermotechnology and Security Systems divisions into the Philippine market. With these two new business divisions, Bosch continues to secure outstanding performance in the Philippines"

Opening of Bosch Technical Center

Continuing its promise of delivering top-notch products and excellent service, Bosch is expanding its expertise through a new state-of-the-art training center. With an investment of USD 1.8 million (EUR 1.3 million) the center officially opened its doors on June 5th, 2012 and its located along Chino Roces Avenue in Makati. Tha facility further cements the commitment of Bosch to the Philippine labor force.

What started in 2006 as a service center in Kamagong in Makati has evolved into a training facility, supported by the expertise of both Power Tools and Automotive Aftermarket divisions. The Bosch Technical Center is now a venue to share Bosch's expertise in automotive diagnostics & mechanics, woodworking, and other similar skills. Associates, key stakeholders, customers and scholars form various technical partnerships will find value in the practical, technical-vocational short courses.

The partnership with TESDA (Technical Education and Skills Development Authority) dates back in 2007, where co-operation has since trained some 5,500 auto mechanics. In 2010, this partnerships was renewed and the result was an astounding 11,000 trained skilled workers for construction.

"We are pleased with the continued success of our technical co-operation with TESDA, which has resulted in the uplifting of training standards and skills for the local community," Mr. Hong commented.

He added, "With the Philippines being a service-driven economy, Bosch aims to contribute to enhancing the country's service sector and enable more Filipinos to find quality employment and livelihood."